tv Cavuto Coast to Coast FOX Business January 10, 2023 12:00pm-1:00pm EST
earlier we asked the trivia question, which is the capital of which country. latvia, indonesia, india, guatemala. i know the answer. i absolutely guarranty you i know the answer. how but, ash? >> i do too. it's a favorite for british bachelor parties. apparently cheap to get there. cheap booze. it is latvia. >> rita is the capital of latvia it doesn't sound like guatemala town, does it? >> no. stuart: ash, thank you again for all the hard work you did during the holidays. appreciate you. my time is up. it is 12 noon. here is neil. neil: thank you, stuart. the market on tenterhooks. doesn't know whether it will burst out or go down. examining, naval gazing it is
called when jerome powell would speak. they are betting he would say interest rates and the trends. no more, depo little sized institution as if. get the gauge made of key inflationary data due out on thursday. connell mcshane following that, so much more. connell. >> reporter: as if, right. we were waiting for powell to your point make some sort of a point about the markets when he was speaking a the central bank conference in sweden but he really didn't. he didn't give investors any hints what the fed's next move might look like. no direct comments about economic or monetary policy at all while speaking in europe. he said interesting things. he was in part of the speech where he was saying price stability is the bedrock of a healthy economy. then the chairman said higher interest rates also carry some political risk. >> restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy. >> reporter: powell said after that, that the fed should stay
politically independent while still tackling inflation. jpmorgan chase ceo jamie dimon meantime says that powell, the fed, they might have to raise the benchmark interest rate beyond the 5% mark as he gave us his latest economic outlook. the comments from jamie dimon after repeated warnings from dimon last year going in april and october of the risks facing the united states. >> the consumer is still strong. their balance sheet is in good shape. spending 10% more than pre-covid. they have more in their checking accounts. companies is in good shape. that is driving a strong economy. april to october, there are these things out there which are very uncertain and i think those uncertainties may very well mitigate, end up with the goldilocks mild recession but they may not. so i'm still on the cautious side on this one. >> reporter: cautious side. he went on to say the uncertainty is heightened because of a whole bunch of things, russia, ukraine, oil, energy. talked about food.
mentioned quantitative tightening referring to impact higher interest rates have not only here but across the are world. we have knew warnings as we look at inflation rate over last number of years ahead of the consumer price report on thursday morning. both blackrock and fidelity say markets are under estimating. fed funds will stay elevated with inflation above the 2% market. the markets trading lower today. the point here, neil, they think traders might make some same exact mistakes last year assuming that inflation will come down much more than it actually will. neil. neil: if anyone was looking for guidance, connell, that jerome powell thinking of maybe smaller rate increases spread out over less time, they didn't get it today? >> i don't know sometimes you talk about a president speaking
overseas and difficult types of commentary. the same might apply to a federal reserve chairman but he wasn't speaking specifically about u.s. monetary policy. there was really none of that. neil: got you. connell, thank you very much for that. ed joins us. good to see you in the flesh. don't get that chance. happy new year. >> happy new year. neil: ann, anytime i notice there are trade based on when jerome powell speaks, six weeks from the last fed meeting the markets tank. >> yeah. neil: today not much it didn't really deal with the nitty-gritty rate issues but i'm still convinced he is hot to trot stamping out inflation and gets a little bit fingerpointing when the markets are running up, what do you think of that? >> well he did make it very clear he wants to make sure the fed is not a politicized institution. i think that, neil, is an
interesting statement when you're overseas. i agree with you, i think he will remain hawkish. no matter what happens in the u.s. politically i'm staying out of it. i'm focused on getting inflation down. neil: does he pay attention because he has lamented in the past about spending. >> yeah. neil: obviously complicates what he wants to do. the supposition or hope among many republicans that they will be able to get a rein on that, too early to tell. >> yeah. neil: do you think he is sending any messages or will to them as well? you're in charge of the house, you're going to try to watch this spending but i recognize the reality. you're dealing with a senate that is going to stamp down what you want to do and, as far as progress being made on this, we're not probably going to see much? >> i think he is saying you guys are going to do what you are going to done on the fiscal side of the house. frankly it is none of my business. i'm totally focused getting inflation down. i will move rates to get there i will cause demand slowdown if i have to. the fed has one goal, one goal
only. neil: when you say that ann, one goal, i get that, is it complicated no matter who is running congress, democrats or republicans they are good spending money driving us into debt it does complicate that? he is trying to rein in money out there. they're throwing money out there. >> let's pick a topic that ties into the physical side of it. he said the fed will not be an enforcer of climate policy. neil: right, right. >> one area we see climate spend on fiscal side, some partisan a lot of it not. that is for example, calling out an area that the fed is not going to touch. saying whatever the policy regime is going to be on the fiscal spending side we're not getting involved. i think he is staking his claim, don't look at us for responses on the fiscal side. neil: how much, i know he looks at inflation data, pce, the stuff you guys gather around but does he look at corporate earnings? they are expected to be pretty poor. first time in years we're
anticipating a decline year-over-year depending what survey you believe, anywhere from 4% hit to about half that. >> yeah. neil: does he look at that, if that materializes, he feels that this is working? >> so the fed doesn't technically look at corporate earnings but indirectly. if you look how the fed gathers information for policy making decisions, it goes out to business leaders and local areas, says what are you seeing in terms of price increases in your supply chain, in your wage basis? so seeing the pressure that is coming on corporate earnings is definitely something the fed gets the data on from the bottom up, from the grassroots. so it is definitely factoring into the perspective but not in terms of specific response to the earnings and earnings season we'll see coming up for the stock markets. neil: no matter what happens with earnings, let's focus on this next fed meeting, january 31st and the 1st, what are you anticipating? >> i think it will continue to be hawkish. i think a couple of specific areas will be factoring into the
comments we'll see. one our labor market, our job market remains incredibly strong here in the u.s. neil: it does. >> i'm grateful for opportunities for americans but in terms of the inflation outlook it forces the fed to continue on its rate hike path. the second thing we have commentary about where are we in terms of energy prices not just here in the u.s. but globally? we import some inflation. that is something we don't talk about often. neil: right. >> oil prices are anticipated to be very high for the rest of the world. neil: they are booming in light of china news, the fact they're coming on stream. >> exactly. neil: this next meeting are you in the quarter point club or what? >> i'm in quarter point club. i think we see that i think there is a lag. we need to see what happens in terms of data coming out for the holiday season, very cyclical, very seasonal. very stabilized periods. seasonally the holidays, february i think we have risk of another half a point hike. neil: let me ask you about the reaction if this next move isn't
a quarter, it is a half-point. >> yeah. neil: whether justified or not. >> yeah. neil: i think you're right. markets certainly expecting a quarter point. that could change with data in the weeks we have remaining but if it is a half-point hike, then what? >> i think we'll see nasdaq really crack below levels that we saw at the end of last year in particular. you see a lot of tech stocks, growth stocks, most sensitive to tech, to interest rate hikes. i also think we're going to see some pressure, much more pressure when we look at corporate balance sheets. another thing we don't talk about often is the interest levels, the amount of cash that corporations have to spend to service their debt has gone up significantly. >> right. >> if the outlook for that gets much more oner russ for 2023 with an outsized rate hike, then i think we still see the s&p and dow also start getting outsized steps as well. neil: with all the tightening started in march of last year. last year at this time, all these guys were paying nothing for that debt essentially. >> out the door.
neil: look at it now. an, thank you very, very much an berry on all of that. following the president and his musings in mexico city. later on today we're speaking with his counterparts in mexico and in canada. edward lawrence is there, what we might expect to see. edward? >> reporter: yeah, overriding in this meeting with president joe biden here in mexico and canada is clean energy. that has been the overriding economic theme that is going on here. about 20 minutes ago president biden started his bilateral meeting with the prime minister of canada, justin trudeau. one of the goals for the president here to create a traching block that rivals the trading block growing between russia and china. the difference for president biden is this block will be more environmentally friendly. nsc spokesperson john kirby tells me climate change and economic growth go hand in hand. >> i don't think you can separate one from the other. i mean obviously you want to see economic cooperation and development particularly on the
supply chain, particularly in the terms of clean energy technologies expand and grow, but you want to see if it will expand and grow, it has to expand and grow threw people and expand and grow through better environmental standards. >> reporter: that is the lens. out of the summit, president prt biden will commit to reduce methane levels 15% in the next 20 years. decarbonization zones, making all public buses electric, create a north american hydrogen market that includes sharing research and development. the president wants to align foreign policies and promote semiconductor investment that will secure north american supply chains. on the border he wants agreement to share more personal date to stop the flow of fentanyl into the u.s. he also wants to post a website in coordination with mexico and canada telling people how to come to these countries legally and end their reliance on the cartels. so the deliverables we're seeing are more aspirational, not
immediately effective with the promise of more meetings in the future by these world leaders. back to you. neil: thank you, edward, for that. edward lawrence we'll take a quick break here. pass along news on prince harry's book spare out right now. apparently officially the fastest selling, nonfiction book ever, ever. good god almighty. >> tech: when you have auto glass damage, trust safelite. this dad and daughter were driving when they got a crack in their windshield. [smash] >> dad: it's okay. pull over. >> tech: he wouldn't take his car just anywhere... ♪ pop rock music ♪ >> tech: ...so he brought it to safelite. we replaced the windshield and recalibrated their car's advanced safety system, so features like automatic emergency braking will work properly. >> tech: alright, all finished. >> dad: wow, that's great. thanks.
>> tech: stay safe with safelite. schedule now. >> singers: ♪ safelite repair, safelite replace. ♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire
it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services,
♪. neil: so far so good for the 118th congress and house of representatives. kevin mccarthy is delivering the goods, getting what he wanted done. there are a lot of new rules in place. chad pergram with the latest on all of the above. hey, chad. >> reporter: neil, shakespeare wrote what is past is prologue and the dual over the speaker ship could be a sign of looming internal republican brawls over spending. the vote for speaker could portend what's ahead over the next two years. why is that past not prolog for the rest of the next two years? >> nobody said any of this would be easy. fixing the problems of the country is complicated because they're huge problems. these are not small problems our country is facing. it will be an exciting process
to watch. i think people will be tuned in like they were last week. >> reporter: scalise says republicans are not discussing possible defense cuts a fight over the debt ceiling is ahead. gop representative bob good thinks the party should use a possible government shut down to get its demand. >> we have got to be willing to use that as leverage quite frankly. the same way that we would never have achieved the historic changes to the rules and to change how congress operate unless we were willing to defeat the speaker to accomplish those. you have to use leverage points. that is what this is about in this business, persuasion, and leverage, leveraging power to accomplish what you need to accomplish. >> reporter: that is the type of drama and tactics which could backfire on the party. >> republicans have gotten off to such a rocky start. they think they are a bunch of crazy people in the republican party, that there are individuals who love to create chaos and so if there is ensuing
chaos, there is actually a good chance republicans are going to get blamed for that. >> reporter: it is hard for the gop to get close to the balancing the budget unless it trims entitlements that includes medicare, medicaid, social security. that accounts for 70% of all federal spending. defense makes up the other 15%. republicans want to cut trillions from entitlements in order to balance the books. neil? neil: good luck with that one. thank you very much, chad pergram. mick mulvaney, former acting white house chief of staff, former omb director under president trump. mick, we know what they want to do. we know they have a very thin majority. they might succeed getting a lot of that through. but it has to go to the senate where they get a very different reaction. play this out for me. >> neil, remind me not to follow chad pergram when he is quoting shakespeare. that is very difficult. look, for all of the fire and brimstone over the last couple
of weeks, what i think people are ignoring is, that republicans still just control 1/3 of the calculus here. they control the house. they don't control the senate. they don't control the white house there is no chance, no chance, that major republican legislation is going to get passed. the first and primary role the republicans play in the house is check and balance against the biden administration. this is the same it was for nancy pelosi in the last two years of trump's term. they're not going to balance the budget. they will not get dramatic spending cuts. might they get bits and pieces as part of negotiation with the democrats? yes that should work. anybody thinks this is life-changing experience or transformational doesn't understand washington. neil: mick, what you make of number of representatives i have had on, republican more in the moderate camp, kevin mccarthy camp initially going into vote hog are concerned about freezing budget spending at this year's levels, that my extension into
next year say that would mean the equivalent with positivelation growth, inflation, contracted budget. that that will hit defense. they don't like that. where do you see this going? >> that is part of that washington language deal than different than ordinary english. in washington if you spend that $100 last year, spend $100 this year, they call that a cut. that the is game democrats played for as long as you and i following this business. if we warrant increased defense spending which we do, generally as a party if we want that, the price of that is increased social welfare spending. that is the dynamic washington, d.c. even when we controlled the house, the senate, the white house we still had to have democrat support in the senate for spending bills. the price for that increased military spending was increased social welfare spending. that's what i think the language you're hearing jim jordan was on your network this weekend talking about this they say for the first time in the mainstream
of the party they want to start looking at defense cuts, that is the reason. they want to try to break that sort of extortion connection that democrats made between defense spending and social welfare spending. that will be very difficult to do. the growth, rate of growth might come down the next couple years but you will not see real cuts. neil: when it comes to defend spending i know jim jordan talked about room for cutting everywhere including defense. he was looking at a lot of woke investments and policies in effect chiseledded out of there. i'm taking that leap myself bawls he did say there is room for cutting there. just today steve scalise said gopers have not discussed cutting defense spending. so where is this going? >> what do the rules call for? listen, i was not a big fan ever the 20 holdouts. i didn't understand why this was worth it but when you look at the rules package they got everybody says well they now agreed to a balanced budget. no, they haven't.
what they agreed to in rules package a vote on balanced budget. this is conservative concerns in previous leadership, house budget committee, house budgets were not allowed to be voted on. they are allowed to have a vote. that doesn't mean it will pass. it is unlike hi to pass. it will start the debate. against the rules in republican party when i got there, cutting defense spending. one reason john mccain voted against me for my senate confirmation. the town is different. attitude about the debt is different. the debate is there. i think that is healthy, that is a win the 20 folks got last week in the rules package. neil: you talk about entitlements, some of this, that is really the core of a lot of our spending and every time someone raises for someone young, a later retirement age or something that might have even the most minor of adjustments, it is always slapped down and we never make any progress. do you see anything out there now that shows you this time could be different?
>> a little bit, neil. it will be tough. it just opens up the republicans to such easy demagoguery by the mainstream media on the left around the democrats. i will give you a specific example. the largest mandatory reduction proposal in history was donald trump's budget. the one we offered in 2017. did not touch old age retirement. did not touch main line medicare. cut scholarships for doctors. cut support for schools so forth people never realized was part of mandatory spending we were attacked for it. i don't know if the attitude changed in washington t sounds like, sounds like republicans who are there now are more interested in talking about those things publicly and not running from the issues which they have to do in order to get the budget in line. i'm cautiously optimistic we'll have a debate in much more free spirited, full-throated way we have in the past. that is a good thing. neil: we'll watch it closely. mick mulvaney, thank you. good seeing you again.
mick mulvaney former trump administration official, former acting white house chief of staff, omb director, much more, knows where the statistical bodies are buried i guess you could say in washington. the dow is flat right now and we've got storms raging on the west coast, particularly in montecito. that is the home of oprah, prince harry, meghan markle and ellen degeneres. thousands have been evacuated. we'll give you latest on that as well after this we got this, babe. that means that your dreams are ours too. and our financial planning tools can help you reach them. that's the value of ownership.
♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment.
the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. wait... do you use singlecare? no, i have insurance. oh singlecare can actually beat your co-pay. singlecare can also beat the price of your medicare plan. you mean our medicare plan? damn you too much sun! check the singlecare price today!
♪ neil: all right, we are looking at a lot of developments right now having pretty much everything to do with what the president is committed to in mexico city and what we're going to hear out of the leaders and canada and mexico to support the effort to secure the border. that is only part of what he is discussing. i want to go to griff jenkins at eagle pass, texas, where they're waiting to get details as well, the response to promise for help, how much help, and where it is going to go.
griff what are you hearing? >> reporter: neil, good afternoon. what was significant today that i was able to accompany and all-female u.s. senator codel that came down. three republican senators led by tennessee's marsha blackburn along with alabama's katie brit, only been senator for one week and mississippi's cindy hyde-smith. they saw the drone footage, literally today of migrants crossing the river as the senators stood behind me, watching them come across. they watched the smuggler come across the river, go back to get another group. they were able to speak with the migrants directly. ask them about their situation. they are from ecuador, the dominican republic and also cuba. one of the cubans was an elderly grandmother visibly shaken and exhausted. they saw discarded i.d.s from the migrants who don't want to
be identified in hopes they won't be title 42 if they're identified from president haiti, venezuela, cuba, and of course anything rock nicaragua. they toke had us and said they missed an opportunity to see what they saw in el paso. >> took them 718 days to get to the border. took me six. you have got to come, got to see it. tough ask for the real unvarnished truth. tough tell these courageous men and women who are on border patrol, national guard, what not, you want honest answers. we need those in order to create solutions. the cartels are emboldened. they do not think that the united states is going to enforce our existing immigration laws. and so they feel like this is the time that they can make the big bucks.
>> reporter: and neil, if we go now live to our fox flight team, the drone high above, you can see those shipping containers with the razor wire along with the texas dps state trooper cars and national guard humvees lining the bank here, because these senators learned today, that in the first 100 days of this fiscal year, neil, there have been more than 60,000 known got-aways. not just migrant encounters. those are more than 150,000. 60,000 known got-aways. the population of eagle pass where i am standing is 29,000. you're talking about in 100 days more than the twice the population of eagle pass has come into the country, seen, not brought into custody. they have disappeared into the united states. that is why these senators are here. that is why they hope to go back to washington to try and drive home a message, a bipartisan message to both the congress and this white house that the policies need to change to get
this situation under control. neil? neil: thank you for that, griff jenkins in eagle pass. to claudia rodriguez, el paso city councilmember. claudia, very good to have you back. i'm just wondering, do you know, looking back at the president's visit, why and how he was never able to meet with migrants themselves? >> i have no idea. i mean i can only assume it was probably done for security purposes, at same time we are the united states of america. we are one of the strongest, most powerful countries in the world. i think had there been a will there could have been a way. it is certainly a missed opportunity. i thought you know, me calling him to come down to el paso, the reason for that because he needed to see what was going on in el paso. and instead we painted him this pretty picture. to me this is completely undermined all the work that we did. you can see that there is a
crisis. now i don't know if he got the point across. neil: we're told there will be a joint statement later on the part of leaders of mexico, canada, president leading the united states specifically on border issues. we don't know specifically what. the president hinted coming forth, more asylum protection, up to 30,000 a month who could be given protection for those coming from venezuela, cuba, nicaragua, what have you. i'm curious though, where on the money part of this it should go? if you had your druthers where do you think it should go? >> it needs to go towards securing our border. needs to go hiring more border patrol agents. we should not be in the business of making shelters. the president coming in. he had a pretty good foundation of where immigration, in the direction that immigration should be heading. he came in and he was very reckless about it. he ended all the policies from
the previous administration when really what he could have done was just layered on top of it. so now he is in a summit in mexico city and has zero to work with, right? he had that before. he could have said, this is where we're at. how much further can we go ahead and fix this, and make it better and make it better? whatever legislation comes from it comes from it, i think the president up until now has been 100% reckless. neil: all right. we'll watch it closely. claudia, thank you very, very much in the meantime. and in the meantime here, sometimes the, all goes around, doesn't it, when it comes to classified documents? some intell materials related to iran, uk, were found in the vice president's office in days when he was vice president before he ran for president.
♪. >> reporter: welcome back to "cavuto: coast to coast." i'm peter doocy at the white house where we're realizing that president biden has a lot less to say when it is his classified documents being scrutinized. [shouting questions] >> what about the documents, sir? >> reporter: when he was talking
trump. president biden: how that could possibly happen, how anyone could be that irresponsible. and i thought, what data was in there that may compromise sources and methods? by that i mean, names of people who helped, et cetera. just totally irresponsible. >> reporter: special counsel to the president says the discovery of these documents was made by the president's attorneys. 9 documents were not subject of any previous request or inquiry by the archives. since that discovery the president's personal attorneys cooperated with the archives around department of justice and a process to insure obama-biden administration records are appropriately in the possession of the archives, but republicans who promised investigations into many things are now adding this to the list. the national archives fall under the jurisdiction of the house oversight committee and the new chairman, james comer. >> the, i'm not going to be quick to judge.
i just know that he said it was very irresponsible for president trump to take classified documents to his personal residence and have them in an unsecured location. >> reporter: cnn is reporting this hour that the documents that were located in this private office over on constitution avenue pertained to iran, ukraine and great britain. we reached out to the white house, the justice department, trying to figure out exactly what is what there. neil. neil: peter, thank you very much. peter doocy at the white house on all of that. guy lewis, with us former u.s. attorney. guy, you know the back and forth on this, everyone made a big deal of donald trump having a lot of classified documents at his personal residence. this is just as bad. i don't get into the weeds, know legal -- legality of this stuff as you do, my friend but are the two relatable? >> good afternoon, neil.
i think they are relatable. you had had classified documents. they are both where they shouldn't have been. one was a ex-president. the other is a ex-vice president but i think it's a distinction without a difference. listen i would invoke a old doctrine that a judge once said, mr. lewis, i'm invoking the sauce doctrine. i said, judge, what is that? what is good for the goose is good for the grand ir. i always remember right after trump's search warned, they laid out all the classified documents, they took pictures, splashed them all over the tv, i don't see those pictures in the biden episode. neil: so where is this going? the biden folks are trying to distinguish the fact, this was at, the equivalent of a library, office, and not his home and i mean classified is classified. i get that, and some of this is pretty deep stuff, goes to
ukraine, russian relations, pretty sensitive documents. it was important enough for archives once they heard they were there to quickly swipe them back but you know this has happened in varying degrees with administrations. hillary clinton or former secretary of state on and on. how does it happen? do people just mistakenly take stuff, deliberately take stuff? there doesn't seem to be any, punishment for this. should there be? >> seems like almost no rules. look, you want to know the truth? i don't think either guy should have had the documents. if they were classified, if they were top secret, if they were compartmentalized, some of our most secure documents, neither trump nor biden should have had them in their private offices or private homes but you've got to apply the rules equally, it seems to me. with trump, agents went to a
magistrate, they got a search warrant, they conducted a raid, they seized them. none of that happened in the biden -- the other thing about it, neil, that really bothers me when i found out when they actually discovered these documents, it was actually in the biden house. it was actually right before the midterms in november. neil: is that right? >> how that stays secret and out of the press is beyond me. neil: so when you say it was in the biden house, these were reportedly at the university of pennsylvania so-called biden center. no one, there was no mad rush in the middle of the night to seize them but there is, that, you're right, there is a clear difference in how they were treated. if you're appalled that classified documents are just out there and you think it is right to go ahead and storm someone's home, you might as well storm someone's office to keep it consistent, right? >> listen, you apply the law,
without fear of favor. you treat them both equally. i have got no problem with that. when you start drawing distinctions and you're sending in a bunch of fbi agents with raid jackets, you treat the other differently, that is when i think it stinks. neil: gotcha. guy, you're good at the law thing. you ought to stick to it. always appreciate your insight. thank you, my friend. happy new year. guy lewis, following the developments. i know a lot of people say they're different. they are. but i mean the treatment here is a little severe versus one, versus not so with the other. we'll keep eye on it for you. keeping an eye meanwhile, prince harry, his new book spare is out. already it is the best-selling nonfiction book right out the gate. >> do you speak to william now? do you text? >> currently no.
as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today.
comcast business. powering possibilities. e days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's right for you today.
neil: all right, still a mess and getting messier, ugly, in california right now where thousands in that area have been evacuated non-stop. robert ray, fox weather muttmultimedia journalist how is it looking right now, robert? >> reporter: it's a continuing change on the coastline. capatola beach, south of santa cruz. look at the pacific ocean with all the debris. huge trees washed down from the mountainsides the past four or five days because of rushing water, and started because ever intense rainfall and winds. look down the beach, normally that is a place where people are walking with their dogs or family but now strewn with all of the debris. the neil, the unfortunate part about this is businesses are
suffering big time on these coastlines here in the state of california. this is a famous student, sell selda's. they have been there with our photographer with flury of activity. people are trying to clean up all you have the logs, all of the water. literally as you see, neil, the boards on these windows, pacific ocean was banging on sides of the restaurant and pushing it in. they're lucky that the actual structure has not fallen in but they have seen below here, the pacific ocean come in and push up the boards, nasty snare quote. many businesses just like this. if we walk out of here, neil, i want to show you this boardwalk here in capitola beach, with all the places pushing out debris,
chairs, tables up and down the street. a place known for tourism. 10,000 people live here. this is a famous surfside community. so many other places are reeling like this in santa barbara montecito, all the towns with evacuations and flash flooding. the thing is, neil, we're not done yet. we'll have two more rounds this week, and again early next week. just amazing. to think about 10 feet of snow potentially is falling in the sierras, all part of the system affecting the great state and large state of california. neil? neil: just incredible. robert, thank you very much, robert ray in the middle of all of that. meanwhile the book is selling like hotcakes right now, beating all nonfiction out of the gate, all of them, none as sold as well or as fast as "spare" by presence hairy. we have a royal watcher on all of that. jonathan, it doesn't surprise me
the book's a hit. there is a lot of dirt in there, a lot of curess curiosity in there, what do you make of it broke records out of gate? >> it has a weird way of a reverse fairytale, a prince's true love turned into a frog. that is the shocking thing. all of the stories revealed, the first day of release, people catching up in the book they have not seen reported on, there is in this sense prince harry many ways shot himself in the foot reputationly. coming across in the book quite strangely, disloyally for his family, embarrassingly for himself and other people he writes about. no surprise people are rushing out to buy it. neil: jonathan, there is a lot of dirt in there. you might not ever be able to get back with his dad and the
family. he earned a lot of money on this. 20 million on this, netflix all the other ventures, could be 80 to 100 million. that is conceivably more than what he was worth or got as a royal. what do you make of that? >> it is big business, isn't it i don't think prince harry was actually ever hard up by most peoples standards, just from the money he inherited. remember his life was bankrolled for many years until quite recently by a mixture of his family, his father, inheritance and even some state money but i think that again, the question of whether or not it's worth it for the money is one people will be turning over in their minds. the late queen famously commented recollections may vary. it seems harry's own recollections varied. in the recent interview, he said he and meghan never accused royal family of racism. if you scroll back to the oprah interview that sounded like that
to the public. this will put money into his pocket but wondering how much is accurate or true? neil: i wonder if it even matters? what is interesting, jonathan, you know this better than i do, young people that seem to relate to harry and meghan, older people, i don't know that extends to great britain with a great fondness of the royal family, it breaks down whether racism was involved, whether meghan was treated differently, all of that, britain might be a whole different thing but what can you tell us? >> one wonders in terms of the racism whether kennedys ought to take back that prize they gave the couple for fighting structural racism in the royal family when it turns out they didn't think there was anything there according to harry's latest interview. to answer request that he, there is generational divide. harry is doing media interviews in the states, not here in the
uk. did one here. very straight-laced one for the main itv news anchor tom bradby. the fact he is doing comedy shows with steve colbert, for example, he spoke in the past on other late night comedy shows, he is aiming for that younger audience. that is where the couple see their future. they can earn far more in that area, they need to learn, they have a very lavish lifestyle they need to pay for themselves. of course that security they complained britain wasn't going to pay for, all the more necessary, now that in effect he has put a target on his and his family's back, boasting that he killed these 25 enemy combatants in afghanistan. that is also calling into question whether or not he can truly be certain of that because plenty of western strikes actually killed civilians as well as combatants. that could rally opinion him and his family and western troops around the world that could endanger him and others. that is security he needs now
costs a lot of money. yes they will be looking to earn a lot. they will be looking to reach a younger audience, maybe a more american audience hoping earning power in that department won't wane. even if the popularity in the united kingdom and elsewhere in the world will. neil: they're off to a racy start right now and racing start. we'll have more after this. so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. .. of...this. this is the planning effect. paradontax blood when you brush could lead to worse over time. help stop the clock on gum disease now. parodontax toothpaste... ...is 3x more effective at removing plaque bacteria,